Aramco CEO Says Studies Several Foreign Exchanges for 2018 Listing

Source: Reuters 9/26/2016, Location: Middle East

Saudi Aramco continues to look at several overseas exchanges including New York, Hong Kong and London for a listing in 2018 of a part of the state-owned oil company, CEO Amin Nasser said. "This thing will happen in 2018," he told reporters on the sidelines of a conference in Dubai.

He added that the company was working with Chinese partners to look at locations for oil storage, and wanted to boost its oil recovery rate to 70 percent from 50 to 55 percent currently.